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2. A company faces the following demands during the next 4 months, with the following production costs. They incur inventory costs of $3/month/unit. At the beginning of January they have 500 units on-hand. Jan Feb Mar Apr Demand 1000 3000 2500 3500 Prod. $ 40 25 35 30 They wish to determine the optimal production schedule that will minimize production and inventory costs. a. Write a formulation for this problem. Write it out in equations. b. Try using logic to determine what the optimal answer will be.

2. A company faces the following demands during the next 4 months, with the following production costs. They incur inventory costs of $3/month/unit. At the beginning of January they have 500 units on-hand. Jan Feb Mar Apr Demand 1000 3000 2500 3500 Prod. $ 40 25 35 30 They wish to determine the optimal production schedule that will minimize production and inventory costs. a. Write a formulation for this problem. Write it out in equations. b. Try using logic to determine what the optimal answer will be.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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2. A company faces the following demands during the next 4 months, with the following production costs. They incur inventory costs of $3/month/unit. At the beginning of January they have 500 units on-hand. Jan Feb Mar Apr Demand 1000 3000 2500 3500 Prod. $ 40 25 35 30 They wish to determine the optimal production schedule that will minimize production and inventory costs. a. Write a formulation for this problem. Write it out in equations. b. Try using logic to determine what the optimal answer will be.
Transcribed Image Text:2. A company faces the following demands during the next 4 months, with the following production costs. They incur inventory costs of $3/month/unit. At the beginning of January they have 500 units on-hand. Jan Feb Mar Apr Demand 1000 3000 2500 3500 Prod. $ 40 25 35 30 They wish to determine the optimal production schedule that will minimize production and inventory costs. a. Write a formulation for this problem. Write it out in equations. b. Try using logic to determine what the optimal answer will be.
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